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International trade is commerce between different countries. It involves exporting and importing.
When Irish businesses sell products and services to foreign countries, this is called exporting.
When Irish businesses and people buy products and services from foreign countries, this is called importing.
Exports and imports are either visible or invisible.
Visible Ireland sells tangible goods to foreign countries. Examples include Jameson selling whiskey to U.S.A; Dell sells computers made in Ireland to Spain.
Invisible Ireland sells services to foreign countries. Examples include British tourists holidaying in Ireland; U2 touring the U.S.A.
Visible Ireland buys tangible goods from foreign countries. Examples include Superquinn buying oranges from Spain.
Invisible Ireland buys services from foreign countries. Exam...